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I was paying for a policy on a monthly basis and decided to cancel that policy. Then I recieved an SMS from my bank saying

"Pol ref no xxxx has been cancelled on 15/06/2019 and refund of Rs.4956 will reflect in your credit card shortly."

What does it say? And if I use the amount of Rs. 4956 from my credit card will it be debited from my savings account in the next month?

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They sent you the SMS as a courtesy.

Bank refund transactions don't happen instantly.

"Will reflect in your credit card shortly" is bad grammar. It should read "Will reflect on your credit card shortly". Which means that you'll see the refund soon on your credit card.

  • Thank you Ron. By the way if the bank has processed my refund can I use the refund amount from my credit card without having to pay for the used amount in the next month? – Prasanth Ganesan Jun 17 at 16:15
  • @PrasanthGanesan I'm not sure I understand your question. But... presuming that you've been paying for that policy with your CC, then presumably they are going to refund the money to your CC. Thus, any balance your CC has will be reduced by Rs.4956. If your balance had been less than Rs.4956, you'll now have a negative balance. – RonJohn Jun 17 at 16:19
  • Let me try to explain better Ron. I have Rs.20,000 in my credit card which is the maximum amount that I can use for every month. If this refund gets processed, then I'll have Rs. 24,956 as the balance. So if make a purchase for Rs. 4,956 will it get debited from my bank account? (Normally when we have Rs.20,000 in our credit card and if we make a purchase for 5000, we need to pay it to the bank by the starting of next month.) – Prasanth Ganesan Jun 17 at 16:27
  • @PrasanthGanesan Do you mean 20,000 is the balance on the card, or the limit? – yoozer8 Jun 17 at 16:44
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    @PrasanthGanesan with the Rs.4956 credit, you'd be able to make a Rs. 24,956 purchase on your card. Naturally, you'd then have to give the bank Rs. 24,956... :) – RonJohn Jun 17 at 16:57

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